Melton Mowbray Building Society Conveyancing Panel Information

Unlike the CML the Building Society Mortgage Instructions deal with this. Section A.12 states ‘In order to act on our behalf your firm or company must be a member of our conveyancing panel provided we are a society that operates one – see specific requirements for details of our arrangements. The Special Requirements state:

You must also comply with the terms and conditions of your Melton Mowbray Building Society solicitor panel appointment.

This not something that the BSA would traditionally get involved with but they do arrange numerous general legal related conferences which are attended by firms on the Melton Mowbray Building Society conveyancing panel. It is our intention to run specific lender focused seminars in the near future including a webinar on Melton Mowbray Building Society’s requirements . Solicitors on the Melton Mowbray Building Society conveyancing panel are welcome . Further details will be communicated as part of the LENDERmonitor change Notifications .

The requirements to join the Melton Mowbray Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

The fact of the matter is that estate agents will be suffering if their clients start out on the conveyancing process having appointed a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors lawyers.

Although not necessarily published, lenders have varying criteria . We do not hold specific requirements relating to the questions raised as part of the application to be on the Melton Mowbray Building Society conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

• List of all those who can sign off the Certificate Of Title
• Full complaints history for each conveyancing solicitor
• Number of partners per branch of the firm
• List of all solicitors within firm
• Full disciplinary history for each conveyancing solicitor
• Whether any lender has ever made a claim against the firm’s PII cover
• Full complaints history for each licensed conveyancer
• Automated alerting to inform lenders when there is a fundamental change to the firm e.g. new disciplinary action
• List of all those staff who work within the conveyancing team
• Details of any accreditation e.g. Lexcel and/or Conveyancing Quality Scheme

During this period 3 sections of the BSA Mortgage Instructions were changed by Melton Mowbray Building Society. Some changes are more important than others but as a firm on the Melton Mowbray Building Society conveyancing panel you are of course obliged to comply with individual lender requirements. Locktons have recently pointed out in an article that non-compliance with lender requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: BSA requirements are not guidelines; they are the lender client’s instructions.

BSA lenders do not come within the top 20 lenders in terms of frequency of questions. The most popular lender panels in terms of questions are as follows:

• Santander Conveyancing Panel
• National Westminster Bank Conveyancing Panel
• Royal Bank of Scotland Conveyancing Panel
• HSBC Conveyancing Panel
• Lloyds Conveyancing Panel

11 borrowers attempt to locate a conveyancing practitioner on the Melton Mowbray Building Society panel on a monthly basis in Hendon. Please contact the team at lenderpanel.com to see how your firm can be listed by those searching for conveyancing in Hendon.